How to incorporate sustainability as part of your business strategy

sustainability - cleanbuild

How to incorporate sustainability as part of your business strategy

Sustainability is increasingly becoming a buzzword especially in the business world and rightly so! It’s no longer shocking to hear news of vicious wildfires, floods, intense heat, and melting ice caps as climate-related events continue to leave devastating effects in their wake.

All of these occurrences point to what is now a real threat to the survival of humans and other species- climate change.

With the recent happenings in the world, more and more people are becoming environmentally conscious as the days go by. Commitment to social and environmental change is no longer in the purview of climate activists but every dweller of the planet earth.

Many experts agree that human-related activities are the major drivers of climate change. In fact, the National Aeronautics and Space Administration (NASA), projects that it’s 95% more than likely that human activity is behind global warming.

No doubt, human industries are a big part of the climate change picture because of their reliance on land, resources, fossil fuels, and large-scale production and consumption.

As such, for business owners, putting sustainability at the core of their operations is not an either-or issue; it’s a necessity. In simple terms, business sustainability is the practice of operating a business without impacting the environment negatively.

A green business is not one that’s all about profit but one that considers its impact on society and the environment. Such a business is said to be sustainable because it contributes to the health of the structure within which it can operate and thrive.

This becomes more imperative as consumers across generations, geographies, and socioeconomic backgrounds are seeking and responding to brands that reflect their environmental and social values.

GWI, a global research firm released its 2021 consumer trends report of global internet users. The study shows that as of July 2020, 72% of consumers across 20 countries said companies behaving sustainably was more important to them because of the Covid-19 pandemic.

Also, the study unearthed that having a poor environmental record is one of the top three factors influencing consumer behavior.

Apparently, among other things, consumers look out for in a brand include the quality of its products or services and how it addresses the problems of climate change.

For example, environment-conscious customers want to know if a product contributes to efforts to reduce carbon emission, waste, or plastic pollution; how a business gives back to society, and what it’s doing to make the world a better place.

Perhaps your retail or e-commerce business hasn’t boarded the sustainability wagon. This needs to change or you run the risk of being overshadowed by environmentally conscious competitors.

Admittedly, lack of resources, unaware personnel, lack of a plan, and inability to gauge success might hold you back from making the move.

However, doing this has more benefits than challenges. Apart from supporting global and local efforts to cultivating a livable planet. Consider a few other benefits of opting for business sustainability.

  • Reduces costs of business operations
  • Boosts competitive advantage
  • Increases bottom line
  • Promotes brand reputation

Are you worried about the size of your business or that it won’t make enough of an impact? Whatever the case, every enterprise regardless of size has a quota to contribute in this fight to tackle climate change.

After all, you need a stable not to mention a healthy environment for your business to thrive. Below are suggestions on how you can help your business go green.

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